The broker offers its clients a choice of three account types. All of them provide the investor with full access to the globally recognized MetaTrader4 trading platform and flexible leverage from 1:100 to 1:400. What is more, micro lots are available for trade on all account types.

The Classic account is commission-free, while the ECN ones involve a commission, but provide minimum spreads as low as zero.

Moreover, a free Demo account is also available, which is always appreciated by newbies. This broker, however, does not offer Sharia-compliant swap-free service to investors of Islamic belief.

The Company. Security of Funds

Berndale Capital is an Australian forex broker brand belonging to Berndale Capital Securities Pty Ltd. The company was formed in 2012 and is regulated by the Australian Securities and Investment Commission (ASIC).

Australia has become one of the main forex hubs in the world due to the favorable conditions for both brokers and traders: scalping and hedging are allowed, the FIFO rule is not applicable, and there is no leverage cap.

The Australian watchdog applies certain rules and requirements to license holders, such as clients’ money rule: Client funds must be kept in segregated trust accounts, and Berndale Capital states on its website that all money held on behalf of their clients is located within a segregated trust account of Commonwealth Bank of Australia. What is more, ASIC has set a minimum capital requirement and forex brokers must hold at least $ 1 million as a proof of good financial standing.

Trading Conditions

Minimum Initial Deposit
Berndale Capital requires its clients to deposit at least $500 in order to open an account with them. This is not a very high initial deposit, yet it may prevent some small investors from becoming clients of this broker, since leading Australian broker CMC Markets has set no minimum deposit requirement and XM (holding, among others, also an ASIC license) demands just $5 from its clients as a start.

Average Spreads & Commissions
Spreads offered by Berndale Capital are variable spreads, starting from 1.5 pips for the EUR/USD pair on the commission-free account and such spreads are considered comparatively high. In comparison, XM also offer variable spreads from 1.0 pips on EUR/USD on its commission-free accounts.

The spreads on ECN accounts, on the other hand, are competitively tight, the minimum ones amounting to zero. In order to get remuneration for its services, the broker applies a commission of $10/$7 per lot round turn for the ECN/ECN Pro account respectively, which is a quite reasonable amount. In comparison, XM also provides spreads starting from 0 pips on its Zero account, quoting as typical a spread of 0.1 pips on EUR/USD, and applies a commission of $5 per standard lot.

Maximum Leverage
This broker offers leverage up to 1:400 which is at the upper end of the industry’s standard and is considered a high rate. Nonetheless, most ASIC-regulated brokers offer similar or higher leverage levels: CMC Markets – 1:500 and XM – up to 1:888. Here is a list of FX brokers offering leverage equal to or exceeding 1:500.

Traders, however, should be mindful of high leverage, for trading on margin may both multiply their profits on a small deposit and lead to heavy losses exceeding their initial investments.

Trading Platforms

Like most FX brokers, Berndale Capital supports the world’s leading trading platform MetaTrader 4 (MT4), which is fully customizable for just about any trading situation, skill level and preference. With this broker it is available as desktop and mobile version. MT4 provides all the tools and resources a trader needs: a number of technical indicators, advanced charting package, one-click trading option, Expert Advisers (EAs) and extensive back-testing environment.

Payment Methods

Conclusion

Berndale Capital is a reputable broker, providing fast market execution and transparent pricing. It offers attractive conditions for trading in currency pairs, commodity and stock CFDs, and some precious metals through the famous MT4. Here are, in a nutshell, the Pros & Cons with regard to this broker:

FXTM is a EU regulated forex broker, offering ECN trading on MT4 an MT5 platforms. Traders can start trading with as little as $1 and take advantage of tight fixed and variable spreads, 1:1000 leverage and swap-free accounts.

easyMarkets is a CySEC and ASIC regulated broker offering access to over 300 trading instruments, tight fixed spreads, no slippage and a 50% deposit bonus.

HY Markets is global forex broker with more than 30 years of operational experience, regulated by FCA in the UK. Trade Forex with spreads as low as 1.8 pip

XM is broker with great bonuses and promotions. Currently we are loving its $30 no deposit bonus and deposit bonus up to $5000. Add to this the fact that it’s EU-regulated and there’s nothing more you can ask for.

FXCM is one of the biggest forex brokers in the world, licensed and regulated on four continents. FXCM wins our admirations with its over 200,000 active live accounts and daily trading volumes of over $10 billion.

FxPro is a broker we are particularly keen on: it’s regulated in the UK, offers Metatrader 4 (MT4) and cTrader – where the spreads start at 0 pips, Level II Pricing and Full Market Depth. And the best part? With FxPro you get negative balance protection.

FBS is a broker with cool marketing and promotions. It runs an ongoing monthly $999 forex contest, offers a $5 no-deposit bonus for anyone willing to try out its services, and an FBS MasterCard is also available for faster deposits and withdrawals.

FxChoice is a IFSC regulated forex broker, serving clients from all over the world. It offers premium trading conditions, including high leverage, low spreads and no hedging, scalping and FIFO restrictions.

Grand Capital is a MT4 forex broker, offering $500 no deposit bonus and 40% bonus on all deposits.

Summary

Traders` reviews for Berndale Capital

I unfortunately invested with Berndale Capital which has been the worst investment l have ever made. As others have mentioned they promise the world with a managed fund then supine the account (lose) every cent.

If investing money stay well away from Berndale they are spin doctors. They never ever return phone calls no matter how many calls you make. How the investment industry allows Berndale to trade is beyond any reasonable understanding.

I will be contacting the Victorian branch of the ACCC, ASIC and fair trading, may not get anywhere but capture Berndale as running a very bad and untrustworthy trading platform.

The company has lost $13,000 of my super fund,. They are always very slow to send me statements and often require 4 calls before I get a response . The acc manager is a fast talker and repeats himself 4 times in a call. BS co.

I sent a message 1 hour ago re Berndale. Can I report them to ASIC or dept of fair Trading? Is there any class action against them? I called them today and the CEO is not there until tomorrow savro in the boss there. My mobile is 0407467953

False Promises. No Communication. Lost 80% of the deposited money.
They don't return your calls.
I have requested to refund and they didn't.
I have complained them to Ombudsman and still they don't respond to them.
Seriously guys. stay away from them.
Facebook has fake reviews, every one claiming they are making money, but infact they are loosing money.

Beware of "Anna" and especially especially especially "Denny Bejan".
Promise, promise, promise, lie, lie, lie.
Wanted me to deposit $50,000 for a SMSF Managed Trading account. Cajoled, called, lied, promised 30% pa
Relented and gave them $6k. Now down to $2k. Every time I call they promise to put in credit, change the system things will improve.
Don't be an idiot like me. Run for your life.

he is a criminal who says he will treat me like his father, poor barsted, hope he is dead so he dosent know what an arsehole his son is, and his henchmen, danieal kirby, chris kaltzidis,lucjon,amanda etc etc .he should never have accepted me as a client when i disclosed that i am an old aged pensioner (73) and the $30,000 he took off me was 1/3 of my total worth to live on for the rest of my life.
i now find their email adresses are cancelled, so i guess they are now gone !!!!!????????????cheers bryan

I have to say I have been pleasantly surprised by the latest interaction with Berndalecapital. I did have some misunderstanding about the handling of my account ,and was frustrated by the delays in getting account details.However I am satisfied that we can work through our problems and I see a different and professional side to the business.
I will write another review in the future and hope the change I see will continue into the future
Brian Baird

I have had the extreme misfortune of dealing with Berndale capital.I was lured to investing in a so called managed account with promises of a conservative return of 5% per month,but this return would be more like 10 % per month.I was given access to a client account which showed these kind of returns.In the first 3 months I had lost all my account,Berndale added some more funds and lost that as well.They had traded the account with extreme margin, in the hope of making up their own loss with commissions and fills at my disadvantage.
Despite many promises from CEO Stavro and staff not one of these has ever come to fruition.It has been a litany of lies for more than 8 months.I have every conversation logged,it makes for unbelievable study.The last promises today,earlier this week,last week.
My advice,steer well clear of this mob.

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